PNM Resources (PNM) Updates FY18 Earnings Guidance

PNM Resources (NYSE:PNM) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.82-1.92 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.87. PNM Resources also updated its FY19 guidance to $2.04-2.16 EPS.

Shares of PNM Resources stock opened at $38.50 on Tuesday. The company has a current ratio of 0.35, a quick ratio of 0.27 and a debt-to-equity ratio of 1.30. PNM Resources has a 52-week low of $33.75 and a 52-week high of $46.00. The company has a market capitalization of $3.11 billion, a PE ratio of 19.85, a PEG ratio of 4.08 and a beta of 0.27.

PNM Resources (NYSE:PNM) last released its earnings results on Friday, April 27th. The utilities provider reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $317.88 million for the quarter, compared to the consensus estimate of $257.44 million. PNM Resources had a net margin of 5.03% and a return on equity of 8.41%. During the same quarter in the previous year, the firm earned $0.28 EPS. equities research analysts expect that PNM Resources will post 1.87 earnings per share for the current fiscal year.

PNM has been the topic of several research analyst reports. SunTrust Banks reissued a hold rating and set a $37.00 target price on shares of PNM Resources in a research report on Monday, April 2nd. Zacks Investment Research downgraded shares of PNM Resources from a buy rating to a hold rating in a research report on Wednesday, May 9th. ValuEngine downgraded shares of PNM Resources from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Finally, Wells Fargo & Co set a $38.00 target price on shares of PNM Resources and gave the stock a hold rating in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $38.91.

In other PNM Resources news, Director Norman P. Becker acquired 1,250 shares of the firm’s stock in a transaction on Tuesday, May 8th. The stock was acquired at an average cost of $38.50 per share, for a total transaction of $48,125.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.25% of the company’s stock.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity.

Earnings History and Estimates for PNM Resources (NYSE:PNM)

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